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NEW YORK: US oil output from seven major shale formations is expected to rise by about 49,000 barrels per day (bpd) in August, to about 8.55 million bpd, the US Energy Information Administration said in its monthly drilling productivity report on Monday.

The largest change is forecast in the Permian Basin of Texas and New Mexico, where output is expected to climb by 34,000 bpd, to about 4.21 million bpd in August.

Copyright Reuters, 2019

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